QUITO Aug 26 Ecuador is in talks with China
Development Bank to renew a $1.5 billion credit line, the
Finance Ministry said on Tuesday, saying that the funds would be
used for investments to be carried out in 2015.
It was not immediately evident when the original credit line
was approved. Ecuador's Finance Ministry did not respond to
requests for more details.
China has become the Andean OPEC nation's principal
financier through credit lines, financing for energy projects
and up-front payment for future oil deliveries.
Ecuador is seeking $9 billion in Chinese financing for the
construction of the 200,000 barrel-per-day Pacifico Refinery,
though the approval for that funding appears to have stalled
Ecuador returned to debt markets this year with a $2 billion
bond sale, its first since a 2008 default on $3.2 billion in
(Reporting by Alexandra Valencia; Writing by Brian Ellsworth;
Editing by Leslie Adler)